Tender Offer Results

RNS Number : 5124X

JPMorgan Asian Investment Tst PLC

15 February 2012

 



LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN ASIAN INVESTMENT TRUST PLC

RESULT OF TENDER OFFER AND TENDER PRICE

Further to the announcement made by JPMorgan Asian Investment Trust plc (the "Company") on 12 October 2011, regarding the Board's decision to exercise its discretion to implement a 5% Tender Offer in February 2012, and the subsequent Circular to Shareholders dated 20 December 2011 (the "Circular"), the Company today announces that the fully diluted cum income net asset value as at the Calculation Date was 220.12 pence per Share. Accordingly, the Tender Price, which has been calculated in accordance with the Circular is 213.4522 pence per Share.

A total of 80,077,944 Ordinary Shares ("Shares") were validly tendered under the Tender Offer. As a result, the Basic Entitlement of all Shareholders who have validly tendered their Shares will be accepted in full and excess tenders will be satisfied to the extent of approximately 4.1343 per cent. of the excess Shares tendered.

8,417,149 Shares will be repurchased by the Company under the Tender Offer and cancelled; this equates to 5% of the Company's Shares in issue at 30 September 2011 (including 26,988 Shares which were allotted following the valid submission by Subscription shareholders to exercise their Subscription Shares by 30 December 2011).

It is expected that cheques will be despatched and CREST accounts will be credited with proceeds in respect of successfully tendered Shares and with unsold uncertificated Shares on 17 February 2012. It is expected that balancing certificates in respect of unsold certificated Shares will be despatched during the week commencing 27 February 2012.

Following the implementation of the Tender Offer and as of 16 February 2012, the Company will have 157,960,355 Shares in issue.

Terms used in this announcement shall, unless the context otherwise requires, bear the meaning given to them in the Circular.

15 February 2012

For further information, please contact:

Alison Vincent

JPMorgan Asset Management (UK) Limited, Secretary

020 7742 6000

Will Rogers

Cenkos Securities plc, Corporate Broker

020 7397 1920

 

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